Get our ForexTrading strategies with our monthly & weekly forecast of currency pairs worth watching using support & resistance for the week of April 3, 2022.
Support: 1.1025, 1.0956, 1.0710, 1.0639Resistance: 1.3181, 1.3236, 1.3316, 1.3357AUD/JPYSupport: 134.58, 133.76, 133.39, 132.35Resistance: 1.2553, 1.2582, 1.2651, 1.2675Let us see how trading reversals from two of last week’s key levels could have worked out:I had expected the level at 0.9372 might function as resistance, as it had acted previously as both support and resistance. Note how these “flipping” levels can work well.
The H1 chart below shows how the price rejected this level with two consecutive bearishat the start of last Monday’s London session, which is often a great time to enter trades in major currency pairs such as this one. The entry point is marked by the down arrow in the price chart below. This trade has been nicely profitable, achieving a maximum positiveI had expected the level at ¥125.
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